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After downloading investment information from financial institutions.  Turbotax says documents received, return to Turbotax.  But when I return to Turbo tax no imported info shows up.
Shouldn't MyMerrill or Merrill Edge at least show up in the drop down list, even if the firm hasn't released the info yet? With my desk top software, I don't see how the name would be added to the dr... See more...
Shouldn't MyMerrill or Merrill Edge at least show up in the drop down list, even if the firm hasn't released the info yet? With my desk top software, I don't see how the name would be added to the drop down list after I have installed the software.
If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if ag... See more...
If you are age 65 or older and meet the requirement, the additional deduction is automatically added on your federal tax return.   Standard deductions for 2025 Single - $15.750 add $2,000 if age 65 or older Married Filing Separately - $15,750 add $1,600 if age 65 or older Married Filing Jointly - $31,500 add $1,600 for each spouse age 65 or older Head of Household - $23,625 add $2,000 if age 65 or older   New Bonus Standard Deduction (OBBB): An additional $6,000 deduction for taxpayers 65 and older. This is per eligible individual, meaning a married couple both over 65 could get $12,000. Important: This bonus deduction is temporary, lasting from 2025 through 2028. Income limitations: It phases out for taxpayers with modified adjusted gross income over $75,000 for single filers and $150,000 for joint filers. The amount is calculated on Schedule 1-A, Part V, with that amount flowing to Form 1040 Line 13b Look at your Form 1040 - You can view your Form 1040 plus Schedules 1, 2 and 3 at any time using the online editions. Click on Tax Tools on the left side of the online program screen. Click on Tools. Click on View Tax Summary. Click on Preview my 1040 on the left side of the screen.
As xmasbaby0 mentions above, you would enter your car loan interest when inputting your Federal return  information under "Deductions & Credits" and then "Cars and Other things you own" and then "Car... See more...
As xmasbaby0 mentions above, you would enter your car loan interest when inputting your Federal return  information under "Deductions & Credits" and then "Cars and Other things you own" and then "Car Loan interest."   You can deduct up to $10,000 of interest paid on loans for new vehicles that you bought between 2025 and 2028.   You will be able to deduct the entire $10,000 if your income is under $100,000 (or $200,000 if Married Filing Jointly).    The deduction is available even if you don't itemize your deductions.   To qualify for this car loan interest deduction, the following requirements must be met: The vehicle must be a new car, minivan, van, SUV, pickup truck, or motorcycle with a gross vehicle weight rating (GVWR) of less than 14,000 pounds The vehicle must be assembled in the U.S. The vehicle must be driven mostly for personal reasons The vehicle must be built primarily for use on public streets, roads, and highways   Click here for What is the vehicle loan interest deduction? Click here for IRS Rules for the One Big Beautiful Bill Car Loan Interest Deduction: What You Need to Know.    If you have additional information or questions regarding this, please return to Community and we would be glad to help.  
I have done everything it has asked me to do, but it keeps taking me to the same screen. I would rather not file by mail and be able to use e-filing.
Your best option is to return to the beginning of your business information section and work through the interview until you are presented with the PPP Loan question again. You should be able to corr... See more...
Your best option is to return to the beginning of your business information section and work through the interview until you are presented with the PPP Loan question again. You should be able to correct your answer. Otherwise, simply ignore the related questions since they don't apply to you.
Where do i place the recently approved additional tax credit of $6000 per senior citizen on my tax forms.  additional to the standard deduction an additional $6000 has been approved.   what line and ... See more...
Where do i place the recently approved additional tax credit of $6000 per senior citizen on my tax forms.  additional to the standard deduction an additional $6000 has been approved.   what line and where is that inputted.
In a previous topic, the tax expert explained that ROTH conversion amounts increase AGI but do not increase MAGI because the funds have been rolled over.  TT is not deducting the roll over amount fro... See more...
In a previous topic, the tax expert explained that ROTH conversion amounts increase AGI but do not increase MAGI because the funds have been rolled over.  TT is not deducting the roll over amount from MAGI which impacts the PTC form 8692 line 2a.  This causes a huge impact when calculating PTC.   Is this a bug or am I not reading the tax expert reply correctly?   I'm using TT Deluxe desktop version 025.000.0245
She has a TIN but not an ITIN and apparently they're not the same.
When entering your 1099R, check the question that asks if the monies was from being a first responder. Then follow the questions. One asks how much you paid from the 1099R for premiums, enter the tot... See more...
When entering your 1099R, check the question that asks if the monies was from being a first responder. Then follow the questions. One asks how much you paid from the 1099R for premiums, enter the total amount.
Tax-free income would not be considered in the calculation of AGI for the phase out of the senior deduction.
Is this your first home?   Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and mortgage insurance that you paid in 2025   You should have a 1098 from ... See more...
Is this your first home?   Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and mortgage insurance that you paid in 2025   You should have a 1098 from your mortgage lender that shows this information.  Lenders send these in January/early February or you may be able to import the 1098 from the lender’s website.   https://turbotax.intuit.com/tax-tips/home-ownership/buying-your-first-home/L5QxJLcQT  https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-credits-deductions/bought-house-deduct/L4X2xnsdz_US_en_US?uid=m6cuvbpg     There is not a first time home buyers credit on a Federal return. That ended in 2010. If your state has such as credit, you will be able to enter it when you prepare your state return.   Buying a home is not a guarantee of a big refund.  Your deductions for homeownership combined with your other deductions (if any) must exceed your standard deduction to change your tax due or refund. If you purchased your home late in the year, you do not even have a full year of home ownership deductions.   Your closing costs on your new home are not deductible except for prepaid interest, prepaid property tax or loan origination fees.  There are no deductions for appraisal, inspections, title searches, settlement fees. etc.   Your down payment is not deductible.   Your homeowners insurance for fire, hazard, flood, etc. is not deductible for your own home.   Home improvements, repairs, maintenance, etc. for your own home are not deductible.  (With possible exceptions for certain energy credits) (BUT——do make sure you keep careful written records/invoices, etc.  of any improvements you make to the home for someday when you sell it.)   Homeowners Association  (HOA) fees for your own home are not deductible.       Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, for example, must meet a threshold that is pretty hard to reach.  The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you.     2025 STANDARD DEDUCTION AMOUNTS SINGLE $15,750  (65 or older/legally blind + $2000) MARRIED FILING SEPARATELY $15,750  (65 or older/legally blind +1600) MARRIED FILING JOINTLY $31,500  (65 or older/legally blind + $1600) HEAD OF HOUSEHOLD $23,625 (65 or older/legally blind + $2000)      
Is this considered the definitive conclusive answer now @turbotax?  I have received at least 5 different answers from your staff and I never know which is right.  Here is where I think the issues lie... See more...
Is this considered the definitive conclusive answer now @turbotax?  I have received at least 5 different answers from your staff and I never know which is right.  Here is where I think the issues lies and what creates confusion:   Taxpayer A who itemizes taxes plays at a social casino; although he has total redemptions of $20,000, he spent $24,000 to purchase the currency needed to gamble online.  The social casino sends a 1099 MISC (which is diabolical to begin with - if you had to spend cash to get cash equivalent credits to play with, it's gambling, not "prizes") for the amount of $20,000 - this doesn't account for net earnings, just gross winnings.   Taxpayer A files this amount as part of their taxes using the "amount not received on a W2G" method.  Subsequently, TurboTax adds this amount to Form 1040, Schedule 1, Line 8b.  When Taxpayer A adds their losses to their total gambling losses within TurboTax, TurboTax adds this amount to their itemized deduction on Form 1040, Schedule A, Line 16.  All is well, right?  That is not clear.     If Taxpayer A enters this same 1099 MISC onto the 1099 entry page within TurboTax, there is no option to deduct these losses.  TurboTax adds this income to Form 1040, Schedule 1, Line 8i "Prizes and Awards", even though this amount is neither prizes or awards.  If you scan through TurboTax replies on these forums and others, or if you chat with TurboTax, about 70% of people will tell you that this would not be the proper way to do it.     Taxpayer A determines that the first option is fundamentally right, they have documentation to justify that money was risked and required to play on the social casino (i.e. gambling), they were net losers which enables the ability to deduct the full amount of losses (up to a maximum amount of their wins) if they itemize taxes, and file their taxes through TurboTax.     Now comes the ultimate twist - Taxpayer A is fearful that filing with the first option poses a risk - they have accounted for the income on the 1099 MISC, but because they entered it as gambling, will the IRS know that part of the gambling total links directly to this 1099 - they didn't enter the Tax ID number from 1099 MISC because they entered the amount as "gambling winnings not on a w2g".  But wait, does TurboTax even report the tax ID numbers when they electronically file your taxes?  If Taxpayer A was filing by paper, they would NOT be required to provide a copy of a 1099 MISC, right?!  How would the IRS even know the tax ID numbers to correlate the numbers in that case?  Does the IRS correlate just the total amounts reported on all W2s, W2Gs, and 1099s to make sure you've reported everything?  If so, then Taxpayer A met that burden by reporting the income as gambling winnings, right??!  
Many thanks for your help my friend...:)
You file a non-resident Georgia state tax return to get a refund of the state taxes withheld from your wages.   In the My Info section of the program, when completing your personal information yo... See more...
You file a non-resident Georgia state tax return to get a refund of the state taxes withheld from your wages.   In the My Info section of the program, when completing your personal information you were asked if you made money in any other states.  You should have answered Yes and then selected Georgia as that other state.  Answering this question will provide the software to present you with a Georgia tax return to prepare as a non-resident.
As Patricia mentioned, the 3115 isn't available in TurboTax online, but you can fill out the 3115 form in TurboTax Desktop if you switch to forms mode.   But that will still not likely be adequate si... See more...
As Patricia mentioned, the 3115 isn't available in TurboTax online, but you can fill out the 3115 form in TurboTax Desktop if you switch to forms mode.   But that will still not likely be adequate since the 3115 has some required statements that you need to attach to it for most types of depreciation changes, and TurboTax doesn't provide a way to attach these required statements to your e-filed tax return.  You could instead paper file your tax return and add the additional statements that way.  But another option is you can e-file your tax return, and then within 3 business days, mail in the 3115 along with IRS form 8453 that can be used to provide a paper 3115 form separately from your e-filed tax return.    By the way, you do additionally still need to also mail another copy of the 3115 to the IRS at a different mailing address, as explained in the 3115 form instructions.   The 3115 form and the required statements is a complicated process to figure out.  If you search online video websites, you should be able to find tutorial videos that should help explain how to file form 3115, and possibly information on specifically how to do that if you're using TurboTax for the rest of your tax return.    
My employer is claiming that since the law was signed on July 4, 2025, only the overtime worked after that date would be considered, but what I'm reading online it's overtime starting January1st. Is ... See more...
My employer is claiming that since the law was signed on July 4, 2025, only the overtime worked after that date would be considered, but what I'm reading online it's overtime starting January1st. Is that correct?